Warning labels and stickers are used to inform customers of critical safety precautions, usage guidelines, or other content. Generally, these adhesive labels are attached to different consumer goods, industrial equipment, or products to warn consumers of possible risks, offer legal disclaimers, and encourage adherence to safety codes. Their role is to ensure user protection and awareness while acting as vital instruments for risk mitigation.

Photo printing and merchandise are personalized gifting and decor products that use photographs. These products are mainly used by individual consumers and corporate offices.

前三季度轻工制造行业指数跑赢沪深300，第三季度财务指标明显好 转。从二级子行业来看，造纸：受下游消费需求恢复偏慢，以及供应端 新增产能持续投产导致供需不平衡的影响，纸企积极采取降价措施以降 低库存，导致前三季度造纸行业利润下滑严重。但第三季度环比有明显 改善，Q3 归母净利润同比由负转正。未来随着库存压力的逐步释放、 下游消费需求恢复，造纸行业的景气度有望进一步修复。家居：前三季 度家居行业恢复相对较好。随着未来经济逐步恢复、促家居消费一系列 政策的落地实施、地产信心重塑，看好家居行业的发展，建议关注家居 相关优质标的。文娱用品：板块前三季度恢复相对较好，部分个股业绩 同比快速增长。随着未来消费的逐步恢复，文娱用品行业收入和利润端 有望向好。包装印刷：由于包装的下游行业与经济周期密切相关，伴随 着未来国内外经济复苏以及促消费系列政策的发力，预计包装印刷行业 的盈利水平有望进一步改善。

回顾市场表现：根据申万行业划分，轻工制造板块2023 年市场表现一般，截止11 月24 日板块下跌3.9%，小幅跑赢沪深300 指数。11 个子板块中，跌多涨少，其中纸包装、金属包装、成品家居、定制家居板块均有略高于10%的跌幅。 基本面方面：家居板块，2023 年内销在消费场景恢复后实现稳步复苏，外销已出现明显的改善，补库需求逐步恢复。各家公 司成本压力普遍缓解，利润弹性普遍高于收入。造纸板块，2023 上半年盈利相对承压，其中木浆系产品受浆价下跌影响，纸 价回落快于成本回落（滞后于浆价下跌），废纸系产品则受进口纸增加的冲击。Q3 随着用浆成本回落兑现、旺季需求和经济修 复支撑纸价，纸企盈利迎来修复。包装板块，纸包装盈利持续承压，一方面由于经济复苏节奏偏弱，另一方面消费电子、白 酒等下游行业景气度不佳，烟包等行业竞争有所加剧。金属包装受益下游啤酒饮料消费场景恢复、原材料价格同比回落，景 气度较高、业绩坚挺。

Material Type: News inks Industry: Printing ink manufacturing

Printing inks consist of pigments of different colors mixed with oil or varnish Unlike paints, a thin layer of printing inks, with thickness varying between 2 30 μm is applied on the surface Presently, manufacturers are working on developing printing inks that can last long, be printed on different surfaces, and can offer high performance a glossy finish

The Material described in this report are primarily defined by its title since the title is generally long and includes most of the criteria used to differentiate the Material from other similar Material. The Material descriptions are sourced from the U.S. Census. Additionally descriptions can be collected from the manufacturing industry descriptions that each Material is categorized. The U.S. Census manufacturing industry descriptions for Material are listed below

智能家用投影仪的消费市场已经初具规模，2018年2022年销售额的年复合增长率为 23.3%，消费市场呈现迅速上升态势。随着行业内企业的增多，中高端智能投影仪的亮度、分辨率、技术方案的差异化程度缩小，行业准入门槛开始降低。因此，中国智能 家用投影仪市场规模的增速将会放缓，2022至2027年销售额的年复合增长率预计为 14.1%。未来中国智能家用投影仪的增长点在于超高清产品的推广、更先进的软件算法、产品在租房群体中的普及等。